Monday, July 23, 2012

July 23, 2012 USDA Crop Progress Report: 45% of Corn in Poor or Very Poor Condition

From CattleNetwork:
USDA: Thirsty crops deteriorate further, desperate for rain
Earlier this morning traders were expecting the USDA’s latest Crop Progress report to show a 3 to 5 percentage point drop for both corn soybean condition ratings, and the USDA didn’t disappoint. Monday’s report showed that the nation’s corn crop has plummet by 5 percentage points.  Nearly half of the nation’s corn fields are now rated in poor to very poor condition.

Corn: 45 percent in poor to very poor condition
The report showed that 86 percent of corn has now silked, which is well above last year’s report of 56 percent. Twenty-two percent of corn is now in the dough stage and 6 percent of corn has dented, compared to the five-year average of 9 and 2 percent.

Nationally, crop conditions stumbled again this week, falling by 5 percentage points:

Very Poor Poor Fair Good Excellent
This week 21 24 29 23 3
Last week 16 22 31 27 4
Last year 5 9 24 46 16

This week marks the eighth consecutive report with falling crop conditions....MORE
Here's the report (13 page PDF)